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Search Results 0 to 49 of about 60 (some duplicates have been removed)
, new york. >> reporter: i'm diane eastabrook. still ahead, chrysler is expanding in the wake of block buster truck sales. i'll have details coming up. >> tom: the world's second biggest economy made its once-a- decade change in leadership today. china's communist party central committee selected its new seven-member ruling team in beijing. the group rules over a chinese economy that has been slowing and showing signs of stress after years of expansion, built on global trade and helped by keeping its currency value locked with the u.s. dollar. but currency expert wolfgang >> the chinese currency that is going to be accelerating the un-pegging versus the u.s. dollar, which will create more uncertainty about the dollar versus china, and therefore the value of what business companies are doing in china. >> tom: we spoke with william nobrega, managing partner at the conrad group, an emerging markets investment advisor about what the new leaders need to do. one of the things that they need to do is taking the reform and building the institution so they ne a robust healthcare system and educ
restaurants, and showcasing breakfast items and specialty beverages. diane eastabrook, nbr, chicago. >> tom: u.s. stock indices continue sinking to fresh three month lows. after starting the day with a small rally, the s&p 500 turned lower mid-morning and sank into the closing bell, finishing at its lowest level of the day, down 1.2%. with today's drop, the losses over the past five sessions amount to 3.7%, with the index at its lowest level since early august. trading volume was 757 million shares on the big board; just under 1.9 billion on the nasdaq. the energy sector led the sell- off, down 1.7%. consumer stocks were weak, falling 1.6%. and the tech sector was down another 1.4%. technology has been particular weak in this recent market sell- off. new product launches from apple and microsoft have not been enough to erase worries about consumer and company spending on technology. the sector exchange traded tells the story-- it fell 1.4% today at a three and a half month low. internet networking gear maker cisco systems was among those leading the way lower. it fell 2.2%. cisco is due to rep
a bankruptcy court for permission. as diane eastabrook reports the move follows months of financial problems and labor un-rest. >> reporter: hostess brands says it decided to liquidate after a strike by members of the bakery, confectionery, tobacco workers, and grain millers international union crippled production at several plants. the workers walked off their jobs a week ago protesting pay cuts and benefit concessions the company demanded in order to exit bankruptcy reorganization. >> it's a shock for a lot of us. we are actually people who want to work, but we are tired of this company's way of constantly lying to us. >> reporter: hostess had already reached a deal with the teamsters union. the irving, texas company filed for chapter eleven in january-- the second time in less than three years. hostess operates nearly 1,200 bakeries, distribution centers, and outlet stores in the u.s. the 82-year old company employs about 18,000 people. many iconic hostess brands could continue to live on after the company's demise. it says it wants to sell as much of its infrastructure as possible. dian
to their communities and make money too. it's called social or community impact investing. as diane eastabrook reports this trend is providing a financial boost to many cash-strapped neighborhoods. >> reporter: philanthropy is a way of life for university of chicago senior thomas george, guiding his career goals and investment choices. >> if my money isn't going to be working for something that i don't actually believe in then i'm not interested. >> reporter: last summer george bought a $500 community investment note from calvert foundation. his money is helping finance organizations like growing home. >> so these are good. >> reporter: growing home's an urban farm that puts the chronically unemployed to work producing fruits and vegetables in one of chicago's poorest neighborhoods. >> community investing is a growing trend both here and in europe. it allows investors to take a financial stake in their communities to improve housing, fight crime, and even add jobs. >> reporter: community investing works a couple of different ways. social impact bonds raise capital to achieve a social goal like keeping
, diane eastabrook shows us how this investment is creating jobs in one of chicago's poorest neighborhoods. >> reporter: this looks like an ordinary store on the outside, but inside, it's something else. the nonprofit stewards market is three businesses in one. there's king lizzy, a boutique specializing in urban t-shirts, hats, and custom-painted sneakers; a recording studio for budding hip-hop artists; and a business that washes and refills soap and shampoo bottles for hotels. all three provide jobs for at- risk teens and young adults like shevelle walton. >> i was looking for a job probably for, like, i'd say about a year straight. >> reporter: former futures trader rowan richards started the stewards market six years ago. >> what's the background on that shoe going to be? >> reporter: even though sales topped $50,000 last year, richards says he recently had trouble getting a loan to expand. >> we didn't have enough track record a lot of times, you know, and people didn't understand who we were. "okay, nonprofit-- that's also doing business. we want to see a little bit, come back and ta
tomorrow. diane eastabrook looks at the personal price of thanksgiving day store hours. >> reporter: this is the calm before the storm at a chicago toys r us. manager danny soro thinks up to 10,000 shoppers will descend on the store when it opens thanksgiving evening, forcing his 300 employees to cut short their holiday. >> we open at 8:00 and we're expecting lines to start from 5 pm to go pretty much throughout the plaza. >> reporter: walmart, kmart, and sears are also opening tomorrow at 8pm; target's opening at 9:00pm. and while opening on turkey day is expected to mean big business for retailers, it's ruffling the feathers of many employees who won't get paid overtime to work the holiday. >> i feel very frustrated about this situation. >> reporter: walmart associate charmaine givens is scheduled to work two eight hour shifts with a three hour break starting tomorrow at 7 pm. >> i'm not gonna do that, no. >> reporter: you're just not going to show up? >> i'm going to call in. i'm gonna call in. i'm not going to just abandon the job. i'm gonna call in and i'm gonna state how i fee
to the chicago federal reserve bank. as diane eastabrook reports, a growing number of investors from pension funds to mutual funds are making farms a hot commodity. >> reporter: to a small but growing number of investors, fertile midwest farmland is the gift that keeps giving. despi last sumer's drought, the value of farmland in the federal reserve's seventh district, which includes iowa and illinois, continued to increase in the double digits. jim farrell is the president and c.e.o. of an omaha-based farm real estate firm. he says last month alone, his company oversaw more than $160 million in farmland sales. >> the level of interest was phenomenal, and we were selling them at higher prices than we anticipated they would sell at before we went into the auction. >> reporter: who's buying farmland? some are investors like these attending the chicago federal reserve bank's annu agriculture conference. while farmers still account for about three-quarters of the farmland purchased in the u.s., investors account for the rest and their numbers are growing. jon brorson manages three agriculture fun
-in at the show, and, as diane eastabrook tonight, the company hopes the spark can give the electric vehicle business the jolt it needs. >> reporter: the chevrolet spark e.v. will hit showrooms in california and oregon next summer. engineers are still testing the pure plug-in so general motors can't say yet how many miles the sub-compact will get on a single charge. what it can say is new technology will allow for faster charging. the spark won't be cheap. with tax incentives, the car's sticker price will be about $25,000, double the price of the gas-powered version. >> when you look at the functionality that this vehicle has and the range we offer-- which we believe is the top of its segment-- it is going to be extremely competitive from a price perspective. you're always going to pay more for an electric vehicle than you would for a traditional vehicle with a gas engine. >> reporter: general motors has placed a huge bet on electric vehicles, hoping they'll help the company reach the government's 50-mile per gallon corporate average fuel economy requirement in 2025. but so far, interest in
. and for v.w., what's old is new. diane eastabrook has details. >> introducing the beetle convertible special edition. >> reporter: for baby boomers, the iconic beetle is a blast from the past. for volkswagen, it's a crucial connection to the competitive u.s. market place. >> really, the beetle represents the heart and soul of the volkswagen brand, especially in the u.s. everybody's got a story about the beetle somewhere in their family. >> reporter: the introduction of the new beetle convertible comes a year after v.w. redesigned the bug. the german company made the car more masculine, hoping it would appeal to both men and women. and it seems to be working. selling more products in the u.s. is key if volkswagen hopes to reach its goal of becoming the world's largest auto maker. it's currently third, behind toyota and g.m. it's making inroads here, but still has a way to go. volkswagen reported its best october in america in 30 years, selling a little more than 34,000 vehicles. that was a 22% increase over the same month a year ago. still, those figures paled in comparison to what the big th
. diane eastabrook has more on this. she's standing by in milwaukee. diane. >> reporter: susie, the latest polls show president obama winning by a couple of percentage points. but it could be a squeaker. in this working class neighborhood on milwaukee's northwest side, voters poured into a school administration building to cast ballots throughout the day. >> we had lines at 7:00. before the polls even opened, there were probably 20 to 30 people in line. >> reporter: while wisconsin native paul ryan tops the republican ticket with mitt romney, the economy was more important to the voters we spoke to than badger state pride. >> right now, i'm unemployed, so whoever is going to make it better, i'm all for that. >> reporter: in september, the unemployment rate in wisconsin was 7.3%; when president obama was elected in 2008, the state's unemployment rate was 5.9%. while the state has added only 4,100 jobs from january through september of this year, the improving national employment numbers appear to be working in the president's favor. >> in the beginning of the year, only one in five voters s
, a move seen as steering him to eventually take the wheel from ford c.e.o. alan mulally. diane eastabrook reports. >> reporter: as chief operating officer, 51-year-old mark fields will run the day-to-day operations at ford, and will also be in charge of weekly business review meetings. 67-year-old alan mulally will remain c.e.o. through 2014, focusing on global products and the long-term strategy of the company. fields, a 23-year ford veteran, was handpicked by chairman bill ford seven years ago to run the company's north american operations. he's overseen successful product launches, and in the third quarter, helped ford tally 12% profit margins in north america. morningstar auto analyst david whiston says, at this point, the c.e.o. post is really fields to lose. >> the biggest thing is just to keep all the great positive momentum that they've had, turning ford into a more global, efficient auto maker, and away from this regional fiefdoled auto maker they had been for so many decades. that will be fields' biggest challenge. >> reporter: other challenges for fields will be turning around
-of-pocket expenses. diane eastabrook recently talked to the president and c.e.o. of the cleveland clinic about the walmart effect. >> reporter: with nearly a million and a half u.s. employees-- walmart has the muscle to wring out health care costs from providers. and that's why it's made deals with six large providers including the mayo and cleveland clinics to do free spine and heart procedures for employees and their families. the idea isn't a new one. lowes has had a similar deal with the cleveland clinic for a while and other companies like boeing want to do the same thing. but walmart's influence could prompt even more companies to follow suit. cleveland clinic president and c.e.o. dr. delos cosgrove talked to me about the significance of the walmart plan to his facility. >> we can't tell you how many patients are going to be coming here because they've also signed with mayo clinic, geisingers, and virginia mason so it will be disbursed across the country, but we are delighted to have them and we have the capacity to look after them. >> reporter: so if i'm a walmart employee what would i
Search Results 0 to 49 of about 60 (some duplicates have been removed)